Is the UK economy out of recession Essay Example | Topics and Well Written Essays - 2000 words - 2

Is the UK economy out of recession - Essay Example But this hope was to prove a mirage as the trend reversed in subsequent months. Though the UK took a little while to catch up with the crisis in the United States, at the beginning of the second quarter of 2008, the region’s economy was in acute recession. It has been close to two years since the onset of recession in the UK and the economic condition of the region remains weak and vulnerable. While some economists assert that the turnaround is already underway, others take a more pessimistic view. This essay will try to answer this important question, by way of perusing scholarly and news media resources. (Lynch, 2009) The recession that began in early 2008 gave no signs of recovery even after one full year. As the industry data for third quarter 2009 revealed, the economy shrank a further 0.4 % in during this period, which completed the sixth consecutive quarter in decline. As per the Office for National Statistics, by this time â€Å"output has slumped 5.9% since the onset of recession - almost as bad as the 6% slump seen in the early 1980s. The lingering decline came despite interest rates at a record low of 0.5% since March, additional Government spending and an unprecedented pounds 175 billion boost to the money supply through quantitative easing† (Lynch, 2009). But even as the UK was enduring this economic decline, neighbouring countries such as France and Germany have already shown early signs of recovery. While neighbouring countries in Europe were already into recovery, it was only during the heralding of year 2010 that the UK economy showed clear signs of recovery. Financial experts have declared that technically the UK economy has emerged from recession, but concerns still remain about the stability and strength of the pound against the dollar and the euro. Due to the internal economic turmoil, there is a strong possibility for deflation of currency during

Dilemmas of Leadership in Business Assignment Example | Topics and Well Written Essays - 750 words

Dilemmas of Leadership in Business - Assignment Example J. et al. 2004:15) declares that leadership is the capability of any individual to marshal an organization’s members towards effectiveness and success by motivation and influence. It marks an influence relationship with the intention of attaining real outcomes and changes of mutual interest. In contemporary times, influential cross-border leadership is imperative, and this is measurable in terms of cultural adaptability, emotional and cultural intelligence as a factor of self-development in a leader, which impacts success through leadership at an extensive scale in the highly globalized world of modern times. Emotional intelligence (EI) pertains to the notion that the proficiency of leaders to comprehend their individual emotions, and the emotions of people in their working environment is an expedient tool to achieve better business performance. It is claimed that the core competencies of modern and historical leaders is not just a function of EI, but it also incorporates Cult ural Intelligence (CQ) into the equation. CQ is an individual’s ability to adapt to new cultural environment and forego any cultural shock attributable to unfamiliar settings in a cultural context. With regards to assessing the EI and CQ on the developmental scale, many tests have been developed: Cross-cultural adaptability inventory (Kelley C., and Meyers J., 1995), paper-and-pencil inventory, behavioral investment centres, intercultural communication inventory tests (Earley and Peterson 2004) etc. Goleman (2002) claims that four aspects of EI: self-awareness, self-management, social awareness and relationship management, add to the critical set of skills required for profound leadership. He further asserts that self-awareness facilitates empathy and enables self-management. These two combined are a gateway to emotionally intelligent leadership built up on the foundation of self-awareness. The EI in itself is not a distinctive form of intelligence, but the application of int elligence to a certain domain of life- the emotions. The concept has an extensively wide base and therefore its measurement is not scientifically reliable, however its paramount significance can not be doubted with regards to leadership in the current era. Cultural Intelligence comprises of three rudimentary components: cognitive, motivational and behavioral. In light of these, authors of the subject suggest a CQ learning and educational model based on three subjects: meta-cognitive (learning different strategies to enable cultural sense making), motivation (cultural empathy and self efficacy, which is directly proportional to self-esteem of an individual), and behavior (approved behavior in a cultural setting and mimicry). The current issue of contemporary times is an ever increasing demand for global effective leaders, who when measured on the scale of effectiveness must possess the required combination of knowledge measured in terms of EI and CQ for it is necessary for any achiev ement oriented leader in the sphere of local or international relations. However, the supply of global leaders and managers today having adequate EI and CQ is critically very low. Globalization is regarded as the master concept of the modern times, because we live in an era which is marked by dramatic industrialization and interaction between nation states. Extensive globalization indicates that the success of Multinational Corporations (MNCs) and Small and Medium